Out of state Investing

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Simon Ashbaugh
Realtor · Columbus Ohio, Cleveland Ohio · Member since 2022 · 849 posts · 830 votes
2y

Hey Geoffrey, Cleveland is an excellent choice! The city's booming rental market driven by a growing population promises a consistent cash flow. Additionally, its affordability with a median home price below the national average makes it especially appealing for investors looking for a solid return. I got the city mapped out by their neighborhood class, if you need to find a good neighborhood to start with, let's connect! I'd be happy to.

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  • Simon Ashbaugh
    Realtor · Columbus Ohio, Cleveland Ohio · Member since 2022 · 849 posts · 830 votes
    2y

    Hey Geoffrey, Cleveland is an excellent choice! The city's booming rental market driven by a growing population promises a consistent cash flow. Additionally, its affordability with a median home price below the national average makes it especially appealing for investors looking for a solid return. I got the city mapped out by their neighborhood class, if you need to find a good neighborhood to start with, let's connect! I'd be happy to.

    9Reply
  • Travis Biziorek
    Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
    2y

    Hey Geoffrey, definitely add Detroit to your list if you're looking at Ohio at all. 

    The numbers are even better there and the city has a ton going for it. 

    Tune in for the NFL draft later this month and see for yourself. It's being held downtown Detroit!

    1Reply
  • Alfath AhmedBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
    2y
    Quote from @Geoffrey Paugam:

    The numbers look too good in Ohio to pass up! I’m interested in Cleveland, Akron, Canton. Can anyone share their thoughts! Cleveland is number 1, does anyone have experience there! Thank you! 


    Hey Geoffrey, I think you should look into the Columbus market. There has been a ton of growth here over the last 3-5 years. The market is booming in both the business and real estate sectors. New companies like Intel, Amazon, and Google are also investing here.

    I own all of my investment properties here and work with a lot of out-of-state investors in both the east and west coast that love investing here for the turnkey and BRRRR opportunities that we have here. I made some resources for my out-of-state investors like a neighborhood graded map and contractor rolodex that I can share with you!



    [email protected]614-802-5698
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  • Geoffrey PaugamPro Member
    OP
    Investor · West Chester, PA · Member since 2019 · 66 posts · 54 votes
    2y

    Would love to connect 

    [email protected]484-356-4902
    0Reply
  • Geoffrey PaugamPro Member
    OP
    Investor · West Chester, PA · Member since 2019 · 66 posts · 54 votes
    2y

    Sounds good! Let’s get it 

    [email protected]484-356-4902
    1Reply
  • Samuel DioufBusiness Member
    Real Estate Agent · Columbus & Cleveland, OH · Member since 2023 · 1k+ posts · 1k+ votes
    2y

    Columbus, Ohio is a great market to consider if you're leaning towards appreciation. Multiple, billion dollar companies are investing heavy in our area, such as Intel, Google, and Amazon. Which will bring plenty of other investors and general business to the area. I moved here from Florida after seeing the projected growth.

    [email protected]614-662-1652
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  • Geoffrey PaugamPro Member
    OP
    Investor · West Chester, PA · Member since 2019 · 66 posts · 54 votes
    2y

    Thanks Sam! Appreciate the help! 

    [email protected]484-356-4902
    0Reply
  • Account Closed
    Realtor · Cleveland, OH · Member since 2023 · 340 posts · 215 votes
    2y

    Hi, as an Ohio Realtor, yes Ohio is a great place to invest in real estate if you have any questions, please feel free to contact me. Thanks!

    Regina Blake-Ohio Realtor 

    0Reply
  • Min ZhangBusiness Member
    Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
    2y

    Hey Geoffrey!  I personally love the Cleveland market for its cash flow. I invest heavily in this area as an agent. I grew up on the east side of the town with a well versed knowledge of the neighborhood. I am happy to send you my neighborhood grade map to help you get started. Let me know how I can help!

    [email protected]614-412-2912
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  • Patrick DruryBusiness Member
    Real Estate Agent · Columbus, OH & Cleveland OH · Member since 2021 · 1k+ posts · 2k+ votes
    2y

    @Geoffrey Paugam
    If you are looking in Cleveland I would recommend being in areas on the West Side of Cleveland like West Blvd, Cudell, Old Brooklyn, Clark Fulton, Edgewater, Jefferson, and Brooklyn Centre. The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.


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  • Nadeem Alamgir
    Real Estate Agent · Member since 2023 · 831 posts · 577 votes
    2y

    @Geoffrey Paugam I see you said Cleveland so I had to jump in here. Happy to connect and share what I know about the market. 

    2Reply
  • Zeke Liston
    Real Estate Agent · Columbus, OH · Member since 2018 · 1k+ posts · 1k+ votes
    2y
    Quote from @Geoffrey Paugam:

    The numbers look too good in Ohio to pass up! I’m interested in Cleveland, Akron, Canton. Can anyone share their thoughts! Cleveland is number 1, does anyone have experience there! Thank you! 


     Hey Geoffrey, I invest in Cleveland and love the city because it cashflows, but it's also a growing city. There is a lot of potential for growth. Akron and Canton may cashflow a bit better but I personally don't see as much of long term growth in those cities. 

    2Reply
  • Joshua JanusBusiness Member
    Realtor · Cleveland, OH · Member since 2021 · 1k+ posts · 1k+ votes
    2y
    Quote from @Geoffrey Paugam:

    The numbers look too good in Ohio to pass up! I’m interested in Cleveland, Akron, Canton. Can anyone share their thoughts! Cleveland is number 1, does anyone have experience there! Thank you! 




    Cleveland, Ohio is a great market to focus on for cash flow and specific pockets have gone up 2x and upwards of 4x in the last 5-10 years even!

    Examples:

    44109 (median home price went from roughly 50k to 125k in 8 years)

    https://www.zillow.com/home-values/77009/cleveland-oh-44109/

    44102 (median home price went from roughly 30k to 120k in 8 years)

    https://www.zillow.com/home-values/77002/cleveland-oh-44102/

    44106 (median home price went from roughly 100k to 200k in 8 years)

    https://www.zillow.com/home-values/77006/cleveland-oh-44106/

    It has the highest rents on average in all of Ohio for major cities and the median home value is not even in the top 3. That creates a really nice price / rent ratio which is favorable for investors looking for cash flow. The median home price is also very low nationwide which creates a low barrier to entry. You can get solid cash-flowing single families in the 90-120k price range and duplexes in the 130-180k price range. There are cheaper one’s in D/F areas but I would be careful as those can create a laundry list of additional issues. In 2022 the rents increased 12.1% year over year which was the 3rd highest in the entire country per https://www.axios.com/local/cleveland/2023/02/14/cleveland-rent-prices.

    Here are pockets I focus on for cash flow:

    West side - West boulevard, Cudell, Clark-Fulton, Jefferson, Bellaire-Puritas, Old Brooklyn

    East side - Fairfax, Buckeye-Shaker (the north side), Waterloo Arts District, Garfield Heights, Maple Heights, Newburgh Heights, Lee-Miles (the north side), Bedford

    Here are the areas that I focus on for appreciation:

    West side - Lakewood, Edgewater, Old Brooklyn, Ohio City, Tremont (above 490)

    East side - Buckeye-Shaker (the north side), Waterloo Arts District, Fairfax

    *I have a graded neighborhood map of these areas as well if you would like to check it out.



    [email protected]614-502-5316Podcast Guest on Show From DoorDasher to $1.5 MILLION in Real Estate (All at 22 Years Old!)
    3Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    2y
    Quote from @Geoffrey Paugam:

    The numbers look too good in Ohio to pass up! I’m interested in Cleveland, Akron, Canton. Can anyone share their thoughts! Cleveland is number 1, does anyone have experience there! Thank you! 


     Welcome aboard my man.

    0Reply
  • Geoffrey PaugamPro Member
    OP
    Investor · West Chester, PA · Member since 2019 · 66 posts · 54 votes
    2y

    thank you sir. 

    [email protected]484-356-4902
    0Reply
  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    2y
    Quote from @Geoffrey Paugam:

    The numbers look too good in Ohio to pass up! I’m interested in Cleveland, Akron, Canton. Can anyone share their thoughts! Cleveland is number 1, does anyone have experience there! Thank you! 

     I do deals there weekly.  Great numbersm Happy to recommend, 

    0Reply
  • Geoffrey PaugamPro Member
    OP
    Investor · West Chester, PA · Member since 2019 · 66 posts · 54 votes
    2y

    Thanks Bob. Sounds good. 

    [email protected]484-356-4902
    0Reply
  • Mackaylee BeachPro Member
    Real Estate Agent · Kansas City, MO · Member since 2020 · 1k+ posts · 494 votes
    2y

    Unfortunately, I don't have details about Cleveland. However, if you ever explore the Kansas City market, I'd be happy to help you out.

    [email protected]
    1Reply
  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    2y
    Quote from @Geoffrey Paugam:

    The numbers look too good in Ohio to pass up! I’m interested in Cleveland, Akron, Canton. Can anyone share their thoughts! Cleveland is number 1, does anyone have experience there! Thank you! 

    Hi Geoffrey, I'd recommend that you also look into Columbus. I like Columbus Ohio because I see it being one of the biggest metropolitan cities in the next 10-20 years, all signs are pointing here! Population is growing aggressively and jobs are moving here especially with major employers like Intel, Google, Amazon, Nationwide, etc. On top of that, you have one of the biggest and best universities in the world here with Ohio State University. The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here. On top of that, you get great appreciation and very landlord friendly laws. Tons of investors are buying Columbus up! As an investor and agent here, let me know if you have any questions or want to connect

    [email protected]614-300-7535
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  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    2y
    Quote from @Patrick Drury:

    @Geoffrey Paugam
    If you are looking in Cleveland I would recommend being in areas on the West Side of Cleveland like West Blvd, Cudell, Old Brooklyn, Clark Fulton, Edgewater, Jefferson, and Brooklyn Centre. The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.


     Why not everywhere? All cities have doubled tripled or much more. We were told we were crazy to buy in N Collinwood, 10 years or so ago, well look what happened there. Also told East Cleveland we should never even think about it, well, again, look at pricing for MF there an even SF. To many focus on one area. That was and still is a huge mistake. I am closing this week on a duplex on E 128TH, and e 146th, Both under 80k. Duplex 19k in rent, SF 15k. great numbers.

    All the best  

    0Reply
  • Rhianna Cultrona
    Member since 2022 · 29 posts · 22 votes
    2y

    I'm newish in Akron and looking to move into Cle or Cbus. The big thing is having a team on the ground in those markets. Especially Cle where the neighborhoods vary by street. I'm currently trying to make contacts so let me know if you find anyone you love?

    1Reply
  • Kaitlyn Begue
    Cleveland, OH · Member since 2023 · 2 posts · 1 vote
    2y

    Hey Geoffrey, 

    This is Kaityn Begue with Re/Max Above and Beyond. I'm a Realtor/Investor on an investor focused team in Cleveland, OH.

    Investing in Ohio, specifically Cleveland,  is a great idea in my opinion.

    Recently, we have been breaking grounds on large development plans such as the Cleveland Cavalier's Perfomance Center, Blue Abyss aerospace training facility, Sherwin Williams HQ, and not to mention the multi million dollar Metro Health development that was completed recently that has just started adding rapid appreciation in the Clark-Fulton area.

    These projects will only increase demand and most are in the beginning phases.  
    With that being said, If you'd like to chat to see if Cleveland is a good area for your specific strategies, I'd be happy to talk more. 

    0Reply
  • Geoffrey PaugamPro Member
    OP
    Investor · West Chester, PA · Member since 2019 · 66 posts · 54 votes
    2y
    Quote from @Mackaylee Beach:

    Unfortunately, I don't have details about Cleveland. However, if you ever explore the Kansas City market, I'd be happy to help you out.


     Excellent, I will always keep my eyes open to a good deal. After my first one, skys the limit!

    [email protected]484-356-4902
    0Reply
  • Geoffrey PaugamPro Member
    OP
    Investor · West Chester, PA · Member since 2019 · 66 posts · 54 votes
    2y
    Quote from @Kaitlyn Begue:

    Hey Geoffrey, 

    This is Kaityn Begue with Re/Max Above and Beyond. I'm a Realtor/Investor on an investor focused team in Cleveland, OH.

    Investing in Ohio, specifically Cleveland,  is a great idea in my opinion.

    Recently, we have been breaking grounds on large development plans such as the Cleveland Cavalier's Perfomance Center, Blue Abyss aerospace training facility, Sherwin Williams HQ, and not to mention the multi million dollar Metro Health development that was completed recently that has just started adding rapid appreciation in the Clark-Fulton area.

    These projects will only increase demand and most are in the beginning phases.  
    With that being said, If you'd like to chat to see if Cleveland is a good area for your specific strategies, I'd be happy to talk more. 


     I would love to talk! Lets set something up

    [email protected]484-356-4902
    0Reply
  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    2y
    Quote from @Rhianna Cultrona:

    I'm newish in Akron and looking to move into Cle or Cbus. The big thing is having a team on the ground in those markets. Especially Cle where the neighborhoods vary by street. I'm currently trying to make contacts so let me know if you find anyone you love?


     I live on the beach in FL and do deals all the time in Cleveland, 

    0Reply
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